Market turns on its heels

June 29, 2012 | 15:04
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Thursday’s session saw sudden turn-around amid the doom and gloom.

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) rose 0.12 points or 0.03 per cent to 418.16 points, up nearly 3 points against the lowest level during the session.

The HNX-Index of Hanoi Stock Exchange (HNX) also suddenly rose 0.66 points or 0.93 per cent to 71.36 points, after falling almost all the session.

Small-cap speculative stocks led the rebounding.

Binh Thuan Mineral Industry (KSA) hit the ceiling, followed by Nari Hamico Minerals (KSS), Tay Bac Minerals Investment (KTB) on HoSE and Cavico Industry and Minerals (CMI), Bac Kan Mineral Joint Stock Corp. (BKC) on HNX. Hamico Group Mineral (KSH) significantly advanced.

Rubber stocks Danang Rubber (DRC), Sao Vang Rubber (SRC), Southern Rubber Industry (CSM) also rallied after being strongly sold-out in previous sessions.

Real estate sector saw the significant rise of several mid-cap and large-cap stocks like Khang Dien House Trading and Investment (KDH), Ocean Group (OGC), Licogi 16 (LCG), Kinh Bac City Development Share Holding Corp. (KBC), Tan Tao Investment Industry Corp. (ITA), Hoang Anh Gia Lai (HAG).

Securities company shares also largely bounced back on the HNX, with VNDirect Securities (VND) up 5 per cent, Kim Long Securities (KLS) 3.16 per cent, Saigon-Hanoi Securities (SHS) 6.67 per cent, Asia-Pacific Securities (APS) 5.71 per cent.

Financial shares largely stayed quiet with Vietinbank (CTG), PetroVietnam Finance (PVF), Vietcombank (VCB) just gained less than 1 per cent each. Blue-chips Bao Viet Holdings (BVH), Masan Group (MSN), Vincom Group (VIC), Vinamilk (VNM) even ended off.

Advancers amounted to 148 stocks on the HNX, outrunning 88 decliners. HoSE still saw decliners outrunning advancers 126 to 42.

Matching volumes stayed low at VND484.6 billion ($23.4 million) on the main bourse, and hardly improved at VND252.6 billion ($12.2 million) on the northern bourse. Foreigner’s purchasing also stayed weak, with those investors buying just 3 million shares on HoSE and 424,800 shares on HNX.

HoSE’s liquidity reached 42.9 million shares worth VND776.5 billion ($37.5 million). That of HNX was 33.9 million shares worth VND301.3 billion ($14.6 million).

By Hai Linh

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